Weakness in the REIT and yield-co markets and difficulty raising equity
First written in FY2017. 2 of 4 entries say "Mitigated", first in FY2019. Latest entry: FY2020-Q2.
No other company in this theme has enough history to compare yet.
- FY2020-Q2MitigatedAnnual report
「In the J-REIT market, earnings have improved as potential gains have been realized through asset rotation and rents have risen gradually, and the TSE REIT Index has continued to trend higher. Demand is expected to remain firm, as J-REITs continue to be stable and highly transparent real estate investment products.」
For the J-REIT market, the company describes improved earnings, the rise in the TSE REIT Index and firm demand, with the previous concerns over weak market conditions and difficulty carrying out equity offerings continuing to ease. - FY2019MitigatedAnnual report
「In the J-REIT market, earnings have improved as potential gains have been realized through asset rotation and rents have risen gradually, driving the TSE REIT Index higher. Demand is expected to remain firm, as J-REITs continue to be stable and highly transparent real estate investment products.」
In contrast to the previously described weak J-REIT market and difficulty carrying out equity offerings, the company describes the rise in the TSE REIT Index, improved earnings and firm demand. - FY2018-Q3MaterialisedAnnual report
「In the J-REIT market, capital market conditions remained weak due to outflows from J-REIT investment trusts and other factors, resulting in lower fundraising through public offerings than in the previous year.」
Regarding the previously identified risks of a weak J-REIT market and difficulty carrying out equity offerings, the company describes the actual decline in fundraising through public offerings from the previous year, against a backdrop of fund outflows and other factors. - FY2017First statedAnnual report
「The REIT and YieldCo markets have remained weak, making it difficult to carry out equity offerings.」
The company identifies weak REIT and YieldCo markets and the difficulty of carrying out equity offerings as challenges for its asset management business.